BMIT share price reaches 7-month high
Following the declines in the previous two days, the MSE Equity Price Index rebounded by 0.45% to 4,629.568 points. Six equities trended higher whilst only two posted declines. Meanwhile, five companies closed the day unchanged as trading activity improved to €0.41 million. Despite today’s uplift, the local equity benchmark still contracted by 0.78% during the past five days – the worst weekly performance in over two months. Download today’s Equity Market Summary.
BMIT Technologies plc added 0.9% to a seven-month high of €0.54 on activity totalling 109,730 shares. The company is due to publish its 2019 full-year results on 12 March. The Directors will also consider recommending a dividend. In the Prospectus dated 7 January 2019, the dividend for the 2019 financial year was estimated at €0.0216 per share.
BMIT’s majority shareholder – GO plc – also ended the day in positive territory with a gain of 1% to the €4.24 level albeit on just 1,870 shares. GO is due to publish its 2019 annual financial results on 12 March. The Directors will also consider recommending a dividend.
Malta International Airport plc surged 2.2% to recapture the €6.85 level across 8,310 shares. On Wednesday, the airport operator reported another record full-year performance as revenues increased by 8.7% to just over €100 million whilst net profits grew by almost 12% to €33.9 million which is also 9.46% superior to the forecasted figure of €31 million estimated by MIA at the start of the year. The Directors are recommending an increase of 11.1% in the final dividend to €0.10 per share. Shareholders as at close of trading on 7 April will be entitled to receive the final dividend. Coupled with the net interim dividend of €0.03 per share, the total dividend that will be paid out in respect of the 2019 financial year amounts to €0.13 per share.
Also among the large companies, RS2 Software plc advanced by 0.8% to the €2.48 level after recovering from an intra-day low of €2.38 (-3.3%). A total of 36,318 shares changed hands.
A single deal of just 1,000 shares lifted the equity of Mapfre Middlesea plc 2.6% higher to the €2.34 level. The company is due to publish its 2019 annual financial results on 12 March. The Directors will also consider recommending a dividend.
The other positive performing equity today was Lombard Bank Malta plc with a gain of 1.8% to the €2.22 level across 3,347 shares. The bank is due to publish its 2019 full-year results on 23 March. The Directors will also consider recommending a dividend.
Lombard’s postal subsidiary – MaltaPost plc – slipped by 1.5% back to the €1.28 level across 5,500 shares.
PG plc lost 3% to the €1.96 level albeit on insignificant volumes.
Meanwhile, the two largest retail banks – Bank of Valletta plc (24,260 shares) and HSBC Bank Malta plc (51,270 shares) – both closed unchanged at €1.05. Shareholders of HSBC as at close of trading on 5 March will be entitled to receive a final net dividend of €0.014 per share.
Six deals totalling 39,457 shares left the equity of International Hotel Investments plc at the €0.77 level.
Medserv plc retained the €1.03 level across 67,500 shares. The company is currently undertaking a due diligence exercise on AMT SA as detailed in a share-for-share agreement. Subsequently, AMT SA should be launching a voluntary bid, offering to acquire the remaining shares in Medserv at €1.102.
Malta Properties Company plc traded flat at €0.67 on a single deal of 5,375 shares. Shareholders as at close of trading on 24 April will be entitled to receive a net dividend of €0.01 per share.
The RF MGS Index trended lower for the fourth consecutive day as it slipped by a further 0.08% to 1,154.657 points. Despite the extraordinary rout in risky assets across international financial markets, the MGS index still recorded an aggregate loss of 0.16% during the past five days which is the worst performance in three weeks. The drop in the prices of MGS reflected the considerable widening in the yield spreads of Spanish and Italian government bonds over the German counterparts amid a surge in demand for safety following the latest developments related to the global spread of coronavirus.